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Questcor Reports 2010 Financial Results
Date:2/23/2011

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(225)Income tax benefit realized from share-based compensation plans

1,335

783Excess tax benefit from share-based compensation plans

(934)

(743)Changes in operating assets and liabilities:Accounts receivable

3,705

(4,415)Inventories

(348)

(919)Prepaid income taxes

(3,532)

3,316Prepaid expenses and other current assets

(702)

(61)Accounts payable

(9,052)

8,619Accrued compensation

2,018

244Sales-related reserves

6,589

3,097Other accrued liabilities

(255)

526Other non-current liabilities

(871)

(303)Net cash provided by operating activities

36,958

39,985Cash Flows From Investing ActivitiesPurchase of short-term investments

(106,647)

(61,557)Proceeds from the sale and maturities of short-term investments

62,560

73,375Purchase of property, equipment and leasehold improvements

(713)

(140)Net proceeds from sale of product rights

225Changes in deposits and other assets

645

—Net cash (used in) provided by investing activities

(44,155)

11,903Cash Flows From Financing ActivitiesIssuance of common stock and warrants

1,942

1,002Repurchase of Series A preferred stock

—Repurchase of common stock

(21,086)Excess tax benefit from share-based compensation plans

934

743Net cash provided by (used in) financing activities

2,876

(19,341)(Decrease) increase in cash and cash equivalents

(4,321)

32,547Cash and cash equivalents at beginning of year

45,829

13,282Cash and cash equivalents at end of year

$  41,508

$  45,829
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SOURCE Questcor Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

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